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Wanxiang increases bid to win Fisker asset sale

Participants in a bankruptcy auction for failed electric-vehicle maker Fisker Automotive say Chinese auto-parts conglomerate Wanxiang Group has won with a bid of more than $149 million.

Attorneys say CODA bankruptcy issues resolved

(AP)—Attorneys in the bankruptcy case of failed electric car maker CODA Holdings say they have resolved several objections to the company's financing and sale plans.

FTC puts background check sites on notice

Federal regulators on Tuesday warned several companies that the quick, easy background checks they are providing online might violate the Fair Credit Reporting Act.

LodgeNet files for Ch. 11, plans sale to Colony

LodgeNet Interactive Corp. says it is filing for Chapter 11 bankruptcy protection as part of a plan to sell itself to investment firm Colony Capital for $60 million.

Tribune leaves bankruptcy after 4 years

(AP)—Tribune Company says it has emerged from a Chapter 11 restructuring more than four years after the media company sought bankruptcy protection.

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Creditor

A creditor is a party (e.g. person, organization, company, or government) that has a claim to the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract) that the second party will return an equivalent property or service. The second party is frequently called a debtor or borrower. The first party is the creditor, which is the lender of property, service or money.

The term creditor is frequently used in the financial world, especially in reference to short term loans, long term bonds, and mortgage loans. In law, a person who has a money judgment entered in their favor by a court is called a judgement creditor.

The term creditor derives from the notion of credit. In modern America, credit refers to a rating which indicates the likelihood a borrower will pay back his or her loan. In earlier times, credit also referred to reputation or trustworthiness.

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